TEX.A Texalta Petroleum Ltd.

Texalta Petroleum Ltd. ("Texalta") (TSX VENTURE:TEX.A) is pleased to announce
that it has renegotiated the terms of its Farmout and Participation Agreement
dated December 21, 2007 between its wholly owned subsidiary Texalta Australia
Pty. Ltd. and Officer Basin Energy Pty. Ltd., a wholly owned subsidiary of
Rodinia Oil Corp.


The original agreement required Officer Basin Energy Pty. Ltd. to contribute
$10MM CAD to meet work requirements to earn a 60 percent working interest in
Exploration Permits 103 and 104 in the Georgina Basin, Northern Territory of
Australia. As a result of market conditions Officer Basin was unable to proceed
beyond its initial $1MM CAD payment to Texalta Australia.


The new agreement will require Officer Basin to contribute a further $775,000
CAD by February 27, 2009 (payments 1 and 2 totalling $1.775MM CAD) to earn a 18
percent working interest; a third payment of $1.10MM due on January 7, 2010 to
earn a further 11 percent working interest; and a final payment of $2.125MM CAD
due January 7, 2011 to earn an additional 21 percent working interest for a
total of 50 percent working interest in the project.


Officer Basin proposes to assign its rights under the Farmout and Participation
Agreement to Australia Energy Corp., a newly incorporated company with the same
management as Rodinia Oil Corp.


The payment of $1.775MM CAD will enable Texalta Australia Pty. Ltd. to meet its
year 2 commitment of 100 km of seismic on Permit 103 and 50 km of seismic on
Permit 104 with sufficient funds remaining to carry out additional seismic
required to define future drilling targets. 


It is anticipated that the seismic program will commence as soon as a seismic
crew becomes available.


TEX.A is a Calgary based company engaged in the exploration, acquisition and
development of prospective oil & gas properties in Saskatchewan and Alberta,
Canada. The company's wholly owned subsidiary, Texalta Australia Pty. Ltd. holds
100 percent working interest in two exploration permits covering in excess of
5.5 million acres of prospective land in the Georgina Basin, Northern Territory,
Australia.

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